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Non-Life Insurance in Thailand, Key Trends and Opportunities to 2020

Non-Life Insurance in Thailand, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in Thailand, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Thailand non-life insurance segment, and a comparison of the Thailand insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and net earned premium during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Thailand economy and demographics, explains the various types of natural hazard and their impact on the Thailand insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in Thailand, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Thailand non-life insurance segment, including:

  • The Thailand non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Thailand economy and demographics
  • A comparison of the Thailand non-life insurance segment with its regional counterparts
  • The various distribution channels in the Thailand non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Thailand insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Thailand
  • Details of regulatory policy applicable to the Thailand insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Thailand:
  • It provides historical values for the Thailand non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Thailand non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Thailand non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Thailand.
  • It analyzes various natural hazards and their impact on the Thailand insurance industry
  • It profiles the top non-life insurance companies in Thailand, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Thailand non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Thailand non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Thailand insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Office of Insurance Commission (OIC), the insurance regulator, issued the Insurance Development Plan (2016–2020) on January 21, 2016, to develop the insurance industry and protect the rights of policyholders.
  • The OIC has proposed to increase the minimum capital requirements for insurers under the new risk-based capital (RBC) 2 framework.
  • The Ministry of Finance made amendments to regulations on foreign shareholding on January 18, 2017, allowing foreign insurers to acquire a 100% stake in domestic insurance companies.
  • Rice crop insurance scheme became effective on July 3, 2017. The Bank for Agriculture and Agricultural Cooperatives (BAAC) is responsible for the implementation of the scheme.


  • Key Facts and Highlights
    • Table Thai Non-Life Insurance - Key Facts, 2015
    • Table Thai Non-Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Thailand Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Thailand Non-Life Insurance - Gross Written Premium (THB Billion and US$ Billion), 2011-2015
        • Table Thai Non-Life Insurance - Penetration (%), 2011-2015
        • Table Thai Non-Life Insurance - Gross Written Premium (THB Billion and US$ Billion), 2015-2020
        • Table Thai Non-Life Insurance - Penetration (%), 2015-2020
        • Table Thai Non-Life Insurance - Premium per Capita (THB and US$), 2011-2015
        • Table Thai Non-Life Insurance - Premium per Capita (THB and US$), 2015-2020
      • Policies sold
        • Table Thai Non-Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Thai Non-Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Thai Non-Life Insurance - Paid Claims (THB Billion and US$ Billion), 2011-2015
        • Table Thai Non-Life Insurance - Paid Claims (THB Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Thai Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Thai Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Thai Non-Life Insurance - Total Assets (THB Billion and US$ Billion), 2011-2015
        • Table Thai Non-Life Insurance - Total Assets (THB Billion and US$ Billion), 2015-2020
        • Table Thai Non-Life Insurance - Total Investment Income (THB Billion and US$ Billion), 2011-2015
        • Table Thai Non-Life Insurance - Total Investment Income (THB Billion and US$ Billion), 2015-2020
        • Table Thai Non-Life Insurance - Investment Portfolio (THB Billion), 2011-2015
        • Table Thai Non-Life Insurance - Investment Portfolio (THB Billion), 2015-2020
  • Outlook by Category
    • Table Thai Non-Life Insurance - Direct Written Premium by Category (THB Billion),2011- 2015
    • Table Thai Non-Life Insurance - Direct Written Premium by Category (THB Billion), 2015- 2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Thai Property Insurance - Direct Written Premium by Sub-Category (THB Billion), 2011-2015
        • Table Thai Property Insurance - Direct Written Premium by Sub-Category (THB Billion), 2015-2020
      • Policies sold
        • Table Thai Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Thai Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Claims
        • Table Thai Property Insurance - Paid Claims (THB Billion and US$ Billion), 2011-2015
        • Table Thai Property Insurance - Paid Claims (THB Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Thai Property Insurance - Loss Ratio (%), 2011-2015
        • Table Thai Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
      • Premium
        • Table Thai Motor Insurance - Direct Written Premium by Sub-Category (THB Billion), 2011-2015
        • Table Thai Motor Insurance - Direct Written Premium by Sub-Category (THB Billion), 2015-2020
      • Policies sold
        • Table Thai Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Thai Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Claims
        • Table Thai Motor Insurance - Paid Claims (THB Billion and US$ Billion), 2011-2015
        • Table Thai Motor Insurance - Paid Claims (THB Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Thai Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Thai Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Thai Liability Insurance - Direct Written Premium by Sub-Category (THB Billion), 2011-2015
        • Table Thai Liability Insurance - Direct Written Premium by Sub-Category (THB Billion), 2015-2020
      • Policies sold
        • Table Thai Liability Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Thai Liability Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Thai Liability Insurance - Paid Claims (THB Billion and US$ Billion), 2011-2015
        • Table Thai Liability Insurance - Paid Claims (THB Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Thai Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Thai Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
      • Premium
        • Table Thai Marine, Aviation and Transit Insurance - Direct Written Premium by Sub- Category (THB Billion), 2011-2015
        • Table Thai Marine, Aviation and Transit Insurance - Direct Written Premium by Sub- Category (THB Billion), 2015-2020
      • Policies sold
        • Table Thai Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Thai Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Thai Marine, Aviation and Transit Insurance - Paid Claims (THB Million and US$ Million), 2011-2015
        • Table Thai Marine, Aviation and Transit Insurance - Paid Claims (THB Million and US$ Million), 2015-2020
      • Profitability
        • Table Thai Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Thai Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Thai Non-Life Insurance - Direct Written Premium by Distribution Channel (THB Billion), 2011-2015
      • Table Thai Non-Life Insurance - Direct Written Premium by Distribution Channel (THB Billion), 2015-2020
      • Table Thai Non-Life Insurance - % of Direct Written Premium, by Distribution Channel, 2011-2020
      • Brokers
      • Agencies
      • Direct marketing
      • Bancassurance
      • E-commerce
      • Other channels
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Earthquakes
    • Exposure
  • Competitive Landscape
    • Table Thai Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • The Viriyah Insurance Public Co. Ltd - company overview
        • Table Insurance Company - Key Facts
        • Table The Viriyah Insurance Public Co. Ltd - Key Financials (THB Million), 2011-2015
      • Tokio Marine insurance (Thailand) Public Co. Ltd - company overview
        • Table Insurance Company - Key Facts
        • Table Tokio Marine Insurance (Thailand) Public Company Ltd - Key Financials (US$ Million), 2011-2015
      • Bangkok Insurance Public Co. Ltd - company overview
        • Table Insurance Company - Key Facts
        • Table Bangkok Insurance Public Co. Ltd - Key Financials (THB Million), 2011-2015
      • Syn Mun Kong Insurance Public Co. Ltd - company overview
        • Table Insurance Company - Key Facts
        • Table Syn Mun Kong Insurance Public Co. Ltd - Key Financials (US$ Million), 2011-2015
      • Safety Insurance Public Co. Ltd - company overview
        • Table Insurance Company - Key Facts
        • Table Safety Insurance Public Co. Ltd - Key Financials (THB Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Thailand - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Thailand - Life Insurance Regulatory Framework
      • Property insurance
        • Table Thailand - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Thailand- Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Thailand - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workmen's compensation insurance
      • Aviation liability insurance
      • Liability insurance for transportation of hazardous substances
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • Office of Insurance Commission
      • Thai General Insurance Association (TGIA)
      • The Thai Life Assurance Association (TLAA)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Thailand - Stamp Duty on Insurance Policies
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Thailand - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Thai Insurance Industry - Policies and Premium, 2011-2015
      • Table Thai Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Thai Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Thai Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Thai Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Thai Non-Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Thai Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Thai Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Thai Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Thai Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Thai Non-Life Insurance - Bancassurance and Other Distribution Channels, 2011- 2015
      • Table Thai Non-Life Insurance - Bancassurance and Other Distribution Channels, 2015- 2020
    • Property Insurance
      • Table Thai Non-Life Insurance - Property Insurance, 2011-2015
      • Table Thai Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Thai Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Thai Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Thai Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Thai Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Thai Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Thai Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Thai Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Thai Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Thai Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Thai Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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